Slow growth blamed for steel uncertainty

Aug 15, 2013 | 06:42 PM | Corinna Petry

Tags  Metals service center Institute, service centers, steel market, slow growth, market uncertainty, corinna petry

CHICAGO — U.S. service center operators cite slow economic growth for the uncertainty permeating the domestic steel market. Most recent price increases on hot-rolled, cold-rolled and coated coil have held, but the stickiness may be tenuous, sources told AMM.

Steel shipments by U.S. and Canadian service centers increased last month, although daily volume weakened compared with June, and inventories remained lean, especially in the United States.

"It’s just so much uncertainty," a source at a Missouri River Valley sheet distributor said. "Mills are pushing (the increases) but the market is not quite as strong as they would like."....

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